Foster Wheeler has signed an asset purchase agreement with
Siemens Energy to acquire the latter company's environmental systems and services
business that supplies and services clean air technologies
for use in power plants and industrial facilities.

Closing of the transaction is subject to customary closing
conditions, and is expected in the second quarter of 2014.

The purchase includes assets of the former Wheelabrator Air
Pollution Control Company located in Pittsburgh,
Pennsylvania, and the Advanced Burner Technology Company located in
Branchburg, New Jersey.

This is a strategic acquisition which expands our
capability to offer clean air products and services to our
clients in both the power and industrial sectors, said
Gary Nedelka, CEO of Foster Wheelers global power
business.

It complements our existing portfolio of clean-air
products and allows us to provide our clients with a full
array of solutions to meet both tightening environmental regulations and the
growing demand for energy on a global basis.

Specific financial terms were not disclosed.

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